New Algoma Steel CEO Announced

Sault Ste. Marie's steel mill has a new boss.

Algoma Steel Inc. has announced Michael McQuade as its new Chief Executive Officer - he's been a director of the company since last year, but spent more than 35 years with Canadian steelmaker Stelco, holding various finance, accounting, operations, and sales roles - including Chief Financial Officer and President.

He's tasked with overseeing the company's $300-million facility modrenization program, announced last December.

McQuade replaces Kalyan Ghosh, who has resigned to pursue other opportunities - Ghosh served as CEO prior to and during the restructuring of Essar Steel Algoma and the subsequent sale of its assets to a British Columbia-based numbered company associated with its lenders, the company which is now Algoma Steel.